Virginia Retirement System, Richmond, disclosed two commitments and one investment totaling $575 million.
Within credit strategies, the $118 billion pension fund committed $275 million to HPS Strategic Investment Partners VI, a mezzanine fund managed by HPS Investment Partners.
As of March 25, VRS’ actual allocation to credit strategies was 16.1%; the target is 15%.
Within private equity, VRS invested $200 million in Audax Private Equity Solutions, a midhold equity hybrid strategy that invests in existing private equity-backed companies.
As of March 25, the pension fund’s actual allocation to private equity was 16.1%; the target is 16%.
Within real assets, VRS committed $100 million to True Green Capital Fund V, a closed-end infrastructure fund managed by True Green Capital Management that invests in renewable energy assets in the U.S. and Europe.
As of March 25, the pension fund's actual allocation to real assets was 12.6%; the target is 14%.
